SS6E1 Economic Systems

Which characteristic BEST describes Mexico's economy?

• Traditional
• Command-leaning
• Market-leaning
• Pure Market

Which countries government has the most control of their economy?

• Mexico

• Brazil

• Cuba

Which of the following best describes Brazil's economy?

• Prices and wages are solely regulated by the country’s government.
• A slightly market-leaning mixed economy

• The country’s distribution of resources is based on inheritance.
• All economic decisions are based on customs and beliefs of ancestors.

Why are most economies referred to as “mixed economies”?

• There are not any traditional economic systems left.
• Government planners no longer have complete control over command systems.
• Economic poverty is too great in a pure market system.
• Most countries have traits of both market and command economies.

True or False?

Living in a pure market economy would be just as difficult as a pure command economy because pure market economies have no rules or regulations about trade.

• True

• False

True or False?

Most countries in the world are pure market economies.

• True

• False

The economies of Mexico and Brazil can be best described as:

• Market

• Traditional

• Command

• Mixed

In the Triple Venn Diagram comparing these economies, which traits would go in the spot marked A? Choose all that apply.

• mixed economy

• pure market economy

• pure command economy

• market-leaning

In the Triple Venn Diagram comparing these economies, which trait would go in the spot marked B?

• mixed economy

• pure market economy

• pure command economy

• market-leaning

• command-leaning

In the Triple Venn Diagram comparing these economies, which trait would go in the spot marked C?

• mixed economy

• pure market economy

• pure command economy

• market-leaning

• command-leaning